All posts tagged Palm Jumeirah

Dubai World’s latest troubles, which look pretty darn serious, will spook investors who flocked to luxury developments, such as the now infamous Palm Jumeirah, to live the dream.

Many were star struck – lured by the idea of living next to the raft of A-listers including film stars Brad Pitt and Angelina Jolie and footballers David Beckham, David James and Michael Owen, all of reportedly bought apartments there.

The news sent shock waves through credit markets and suddenly everyone was wondering whether Dubai would be able to meet its obligations.

One JP Morgan analyst said: “Property prices are recovering around the world, but jumps look too strong in certain areas and this event may make investors think: beware of castles made of sand.” [Read on to find out about Dubai World's U.K. property interests.]